The Hartford Financial Services Group (NYSE:HIG) Cut to “Hold” at StockNews.com

StockNews.com cut shares of The Hartford Financial Services Group (NYSE:HIG) from a buy rating to a hold rating in a research note published on Tuesday morning.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets increased their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $119.60 on Tuesday. The firm’s 50 day moving average price is $114.10 and its 200-day moving average price is $115.03. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $124.90. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $34.13 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Equities research analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. lifted its position in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $33,000. BNP Paribas purchased a new position in shares of The Hartford Financial Services Group during the third quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $35,000. 93.42% of the stock is currently owned by institutional investors.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.